CIM Group Sells Fifth & Tillery Creative Office Building In East Austin
618 Tillery Street
Building Size
182,700 SF
Asset Type
Office
Closing
Aug 18, 2023
About this deal
AI
The Fifth + Tillery creative office building in East Austin, known for its modern design and solar power features, has been sold by CIM Group, with Shaul Kuba as the seller. This three-story office building offers flexible configurations, outdoor access, and reflects CIM Group's community-focused approach to enhancing real estate assets in Austin and beyond.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Square Footage: 182,700 SF
- Address: 618 Tillery Street
- Market: East Austin
CIM Group, represented by Shaul Kuba, sold the Fifth + Tillery creative office building in East Austin. This transaction highlights the focus on modern design and sustainable features in the East Austin market. The building's flexible configurations and outdoor access offer a desirable work environment for tenants looking for creative office space. CIM Group's community-focused approach to real estate enhancement is reflected in this sale.
Players
Market Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93